Fubon Financial Holding Co (
In a statement filed to the Taiwan Stock Exchange, the company said that Tsai will remain as the firm's vice chairman and chief executive officer. The appointment will take effect after approval from financial regulators, the statement said.
Fubon Financial's board made the decision yesterday to comply with a new measure set by the Financial Supervisory Commission. The new measure, which the commission passed in February this year, stipulates that starting tomorrow, chairpersons and presidents of the nation's financial holding firms can only serve concurrently in a maximum of one other chairmanship at subsidiaries.
Under the new requirement, Shinkong Financial Holding Co (
Currently, Wu also heads Shinkong Life Insurance Co (
TECH TITAN: Pandemic-era demand for semiconductors turbocharged the nation’s GDP per capita to surpass South Korea’s, but it still remains half that of Singapore Taiwan is set to surpass South Korea this year in terms of wealth for the first time in more than two decades, marking a shift in Asia’s economic ranks made possible by the ascent of Taiwan Semiconductor Manufacturing Co (TSMC, 台積電). According to the latest forecasts released on Thursday by the central bank, Taiwan’s GDP is expected to expand 4.55 percent this year, a further upward revision from the 4.45 percent estimate made by the statistics bureau last month. The growth trajectory puts Taiwan on track to exceed South Korea’s GDP per capita — a key measure of living standards — a
READY TO HELP: Should TSMC require assistance, the government would fully cooperate in helping to speed up the establishment of the Chiayi plant, an official said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday said its investment plans in Taiwan are “unchanged” amid speculation that the chipmaker might have suspended construction work on its second chip packaging plant in Chiayi County and plans to move equipment arranged for the plant to the US. The Chinese-language Economic Daily News reported earlier yesterday that TSMC had halted the construction of the chip packaging plant, which was scheduled to be completed next year and begin mass production in 2028. TSMC did not directly address whether construction of the plant had halted, but said its investment plans in Taiwan remain “unchanged.” The chipmaker started
MORTGAGE WORRIES: About 34% of respondents to a survey said they would approach multiple lenders to pay for a home, while 29.2% said they would ask family for help New housing projects in Taiwan’s six special municipalities, as well as Hsinchu city and county, are projected to total NT$710.65 billion (US$23.61 billion) in the upcoming fall sales season, a record 30 percent decrease from a year earlier, as tighter mortgage rules prompt developers to pull back, property listing platform 591.com (591新建案) said yesterday. The number of projects has also fallen to 312, a more than 20 percent decrease year-on-year, underscoring weakening sentiment and momentum amid lingering policy and financing headwinds. New Taipei City and Taoyuan bucked the downturn in project value, while Taipei, Hsinchu city and county, Taichung, Tainan and Kaohsiung
Micro-Star International Co (MSI, 微星科技) is expanding notebook computer production in India after partnering with Indian electronics maker Syrma SGS Technology Ltd late last year, as the Taiwanese company seeks to tap into the local market. MSI also plans to manufacture some of its new gaming PCs powered by Nvidia Corp’s RTX 50 graphics cards in India, while adding more advanced and design-focused PCs and notebooks at Syrma’s plant in Chennai, a source told the Taipei Times yesterday on condition of anonymity. MSI’s deployment in India is driven not only by cost advantages, but also by India’s rapidly expanding consumer market and
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